Stock price of this explosives company has zoomed 74% in 5 weeks; here's why

Shares of Premier Explosives hit a record high of Rs 2,396.60 as they rallied 15 per cent on the BSE in Monday's intraday trade after the company announced stock split in the ratio of 1:5 to enhance the liquidity.

In the past five weeks, the stock price of the explosives company has zoomed 74 per cent. Moreover, in the past two weeks, it has surged 42 per cent after the company announced a stock split plan on April 9. 

The decision to split the stock comes after the market price of Premier Explosives skyrocketed 491 per cent in the past